On July 27, the foreign exchange trading market (forex) settlement powerhouse CLS reported it was in the final stages of testing its blockchain payment service for banks. However, while the service is reportedly set to be launched as soon as in August, the amount of players backing the project has halved since the initial announcement.
The Indian government is expected to issue detailed cryptocurrency guidelines by September, a senior official from the country’s Ministry of Finance reportedly said. Consultations with all stakeholders including the central bank have already begun. This announcement is independent of the supreme court’s hearing of petitions relating to crypto regulation in India.